DP Economics
Question 22N.1.HL.TZ0.a
| Date | November 2022 | Marks available | [Maximum mark: 10] | Reference code | 22N.1.HL.TZ0.a |
| Level | HL | Paper | 1 | Time zone | TZ0 |
| Command term | Explain | Question number | a | Adapted from | N/A |
a.
[Maximum mark: 10]
22N.1.HL.TZ0.a
Explain how a free trade area is different from a common market.
[10]
Markscheme
Marks should be allocated according to the paper 1 markbands for May 2022 forward, part A.
Answers may include:
- Terminology: Free trade area, common market.
- Diagrams: Candidates may answer the question without the use of diagrams, but they might decide to devise a diagram using for example a Venn diagram to help explain the difference.
- Theory: An explanation that a free trade area is an agreement between two or more countries to reduce or remove tariffs and other barriers to trade between them. A common market is a level of economic integration in which countries share common external barriers to trade. Between members there are no controls on the movement of goods and services and there is freedom of movement for the factors of production.
Examiners report
There were many good responses to this part of the question. A significant proportion of candidates were able to offer a clear distinction between a free trade area and a common market. Where there was doubt it tended to be in explaining the features of a common market. Some candidates were not clear that a common market includes the free movement of the factors of production. However, many candidates were able to score well on this part of the question.
